Overseas Vietnamese intellectuals and experts gathered at a forum themed Improving Vietnam’s competitiveness in the global economy on June 7 in Hanoi to contribute opinions to the country’s economic development and integration during 2016-20.

State Vice-President Nguyen Thi Doan said Vietnam had made achievements in all fields, but various weaknesses had also revealed, affecting the country’s competitiveness in the international arena.

The weaknesses should be removed to ensure the country’s development stayed on the right track, she said, expressing her hope to hear the opinions of overseas Vietnamese intellectuals.

Their knowledge, experience and skills had contributed to the country’s fast and sustainable growth, Doan said, adding the Party and State appreciated these valuable contributions.

Professor Nguyen Duc Khuong, President of the Association of Vietnamese Scientists and Experts in France, said the country’s development depended on boosting sustainable growth and improving the financial system.

For a sustainable financial market that is attractive and shock-resistant in the context of international integration, there is no choice but to liberalize and learn how to manage risks, he said.

Khuong presented a three-pronged solution involving the building of long-term trust of investors, tools to manage the macro financial environment, and an investment culture and enterprise management.

Tran Hai Linh of South Korea’s Chonbuk National University Overseas said Vietnamese intellectuals and experts always wished to contribute to the country, but they found it difficult due to the lack of information, linking mechanisms and policy incentives.

Vietnam will be successful if the country can effectively tap the potential of more than 4.5 million overseas Vietnamese including 400,000 intellectuals and experts, Linh said.-